Precigen (NASDAQ:PGEN) Sets New 52-Week High – Still a Buy?

Precigen, Inc. (NASDAQ:PGEN) shares hit a new 52-week high on Wednesday . The stock traded as high as $1.97 and last traded at $1.86, with a volume of 1362520 shares changing hands. The stock had previously closed at $1.70.

Analyst Ratings Changes

Several brokerages have commented on PGEN. HC Wainwright reissued a “buy” rating and issued a $6.00 price target (up from $4.00) on shares of Precigen in a report on Thursday, January 23rd. JMP Securities restated a “market outperform” rating and set a $5.00 price target on shares of Precigen in a research report on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $7.00.

Precigen Stock Performance

The company has a market cap of $560.85 million, a PE ratio of -3.48 and a beta of 1.66. The stock’s 50 day moving average price is $1.08 and its 200-day moving average price is $1.03.

Hedge Funds Weigh In On Precigen

Institutional investors and hedge funds have recently bought and sold shares of the stock. Iridian Asset Management LLC CT raised its position in Precigen by 82.5% during the 3rd quarter. Iridian Asset Management LLC CT now owns 3,775,960 shares of the biotechnology company’s stock valued at $3,576,000 after purchasing an additional 1,706,815 shares during the last quarter. LexAurum Advisors LLC boosted its holdings in shares of Precigen by 151.9% during the 4th quarter. LexAurum Advisors LLC now owns 691,544 shares of the biotechnology company’s stock valued at $775,000 after buying an additional 417,055 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Precigen by 4.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,246,508 shares of the biotechnology company’s stock worth $3,075,000 after acquiring an additional 149,829 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Precigen by 11.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,222,850 shares of the biotechnology company’s stock worth $1,158,000 after acquiring an additional 127,467 shares in the last quarter. Finally, HighTower Advisors LLC grew its holdings in Precigen by 186.8% in the third quarter. HighTower Advisors LLC now owns 192,144 shares of the biotechnology company’s stock worth $179,000 after purchasing an additional 125,145 shares during the period. 33.51% of the stock is currently owned by institutional investors.

Precigen Company Profile

Precigen, Inc operates as a discovery and clinical-stage biopharmaceutical company that develops gene and cell therapies using precision technology to target diseases in therapeutic areas of immuno-oncology, autoimmune disorders, and infectious diseases. It operates through two segments, Biopharmaceuticals and Exemplar.